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    Home > Active Ingredient News > Drugs Articles > Sanofi talks with Abbott and mylan about the sale of mature drug assets

    Sanofi talks with Abbott and mylan about the sale of mature drug assets

    • Last Update: 2014-07-17
    • Source: Internet
    • Author: User
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    Source: Reuters Chinanet 2014-7-17 according to internal documents seen by Reuters, Sanofi has held consultations with Abbott pharmaceuticals, mylan and private equity companies, and may sell 6.3 billion euros (8.5 billion US dollars) of mature drug assets The 25 page copy of the document, circulated within the CGT, details the project Phoenix, which was submitted to the company's Investment Committee on May 6 Documents show Sanofi is considering whether to sell or spin off the drug assets or create a joint venture to take charge of the assets These drugs contain about 200 mature drugs, including Plavix, depakine and pyostatin At present, the annual revenue of the asset is about 2.1 billion euros, but it is expected to decline by two fifths in the next 10 years, as EU countries tighten their health care budget and reduce drug prices A Sanofi spokesman said no decision had been made on the asset "The investment committee will receive materials and research materials on various topics on a regular basis, but may not take action or make decisions based on these materials," he said in an email statement Reuters reported in April that Sanofi plans to sell billions of dollars worth of mature drug assets at a time when global pharmaceutical companies are seeking to cut non core assets and focus on high growth areas According to the document, the Phoenix Project aims to minimize the impact of price cuts, reduce Sanofi's production in Europe and generate gold The project covers six manufacturing and distribution locations in Europe, as well as about 2600 employees, mainly in France, Spain, Italy and Germany As of May, Sanofi had negotiated with potential buyers or investment partners Abbott pharmaceuticals, mylan, private equity firm TPG and Warburg Pincus, according to the documents Pfizer, Otsuka and Teva are not interested, the document said, while negotiations between AstraZeneca and GlaxoSmithKline are still pending The CGT union said in a statement that it planned to draw the French government's attention to the document and condemned what it called Sanofi's "capitalist Monopoly game" and the protection of local employment.
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